Atlantic City: Rise, fall and rebirth?

Bathers on the beach at Atlantic City, New Jersey. (Photo by Hulton Archive/Getty Images)

A view as tourist walk on the Atlantic City Pier in Atlantic City, New Jersey. Circa 1890. (Photo by Herbert/Archive Photos/Getty Images)

A beach scene where women and men wore styles of the day in Atlantic City, New Jersey. Circa 1890. (Photo by Herbert/Archive Photos/Getty Images)

New Jersey, 1878, Atlantic City, New Jersey Coast

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Beach at Atlantic City, New Jersey, USA, late 19th century. Illustration from Portfolio of Photographs, of Famous Scenes, Cities and Paintings, published by the Werner Company, (Chicago, c1899). (Photo by The Print Collector/Print Collector/Getty Images)

A view as tourist walk on the Atlantic City Pier in Atlantic City, New Jersey. Circa 1890. (Photo by Herbert/Archive Photos/Getty Images)

Crowds on the beach and the boardwalk in Atlantic City, New Jersey. (Photo by Hulton Archive/Getty Images)

1921: Full-length portrait of the first Miss America contestants, wearing their sashes over swimsuits, standing in a line on the boardwalk in Atlantic City, New Jersey. Margaret Gorman (second from left), Miss Washington, D.C., was the winner. (Photo by Hulton Archive/Getty Images)

An aerial view of the pier in Atlantic City, New Jersey.Circa 1940. (Photo by Herbert/Archive Photos/Getty Images)

UNITED STATES - CIRCA 1950s: Sea-side board-walk scene.(Photo by George Marks/Retrofile/Getty Images)

UNITED STATES - CIRCA 1950s: Atlantic City, NJ. (Photo by George Marks/Retrofile/Getty Images)

UNITED STATES - CIRCA 1903: Postcard view of three young women sitting on mules and two young men riding in a cart pulled by a small horse on the beach in Atlantic City. (Photo by Lake County Museum/Getty Images)

A night new of Atlantic City Convention Hall in Atlantic City, New Jersey. Circa 1950. (Photo by Authenticated News/Archive Photos/Getty Images)

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Young guests of the Tropicana Motel, sunbath and socialize on the hotel's sundeck, Atlantic City, New Jersey, 1960s. (Photo by Aladdin Color Inc/Getty Images)

1964: Teamsters truck with a 'Justice for Jimmy Hoffa' sign and 'Investigate Bobby Kennedy' sign to protest Attorney General Robert Kennedy's investigation of Hoffa, Atlantic City, New Jersey. Photograph taken at the time of the Democratic National Convention. (Photo by Hulton Archive/Getty Images)

Rev. Ralph David Abernathy a colleague Martin Luther King, Jr. In 1955, he and King became known nationally because of their leadership of the successful Montgomery AL. bus boycott, Dr. Martin Luther King, Aaron E. Henry chairman of the Mississippi branch of the N.A.A.C.P for three decades and Bayard Rustin political adviser to Martin Luther King, Jr. and organizer of the 1963 March on Washington. 1964 Democratic National Convention in Atlantic City NJ. (Photo: Getty Images)

Duches of Cadiz and George Hamilton during Celebrity Ball - Atlantic City at Resorts International Hotel in Atlantic City, New Jersey, United States. (Photo by Ron Galella/WireImage)

Cher during Cher in Concert - July 10, 1979 at Resorts International Hotel in Atlantic City, New Jersey, United States. (Photo by Ron Galella/WireImage)

Early morning mist swirls around the Absecon lighthouse in the north end of Atlantic City, N.J., Wednesday, July 23, 2014. The coastal lighthouse overlooking Absecon Inlet is the tallest lighthouse in the state of New Jersey. First lit on January 15, 1857 and deactivated in 1933, the light still shines every night, but is no longer an active navigational aid. (AP Photo/Mel Evans)

Alex Trebeck, host of the Jeopardy game show, signs one of his slot machines Thursday, Aug. 12, 1999, at the Showboat Casino in Atlantic City, N.J. (AP Photo/ Chris Polk)

Donald Trump ascends the stairs with his fist raised from the genie's lamp after opening the Trump Taj Mahal Casino Resort in a spectacular show of fireworks and laser lights Thursday evening in Atlantic City, N.J., on April 5, 1990. Behind Trump is the 42-story hotel. (AP Photo/Chaarles Rex Arbogast)

Gov. Christine Whitman, left, and State Sen. Bill Gormley, center left, listen as Bob Broughner, CEO of the Borgata Casino Hotel describes the model of the $1 billion Borgata Casino Hotel Monday, June 12, 2000 in Atlantic City, N.J. At right is Don Snyder, president of Boyd Gaming, a partner in the project. Groundbreaking is scheduled for this fall, in Atlantic City's marina district. (AP Photo/Donna Connor)

A performer playing a mad scientist was on hand as Tropicana dignitaries await a ribbon cutting during the opening of the the Amazing Cash Contraption, at Tropicana casino and Hotel in Atlantic City, N.J., Wednesday, April 16, 2003. The Amazing Cash Contraption, a new slot machine jackpot system that incorporated Rube Goldberg style gadgetry into a random jackpot that is awarded every 15 minutes. (AP Photo/Mary Godleski)

ATLANTIC CITY, N.J. - APRIL 2:Strollers on the Atlantic City boardwalk.(Photo by Helayne Seidman/For The Washington Post via Getty Images)

Atmosphere during New Jersey State Government Re-Opens Atlantic City Gaming Casinos - July 8, 2006 at Atlantic City in Atlantic City, New Jersey, United States. (Photo by Tom Briglia/FilmMagic)

Gustavo Mejia lies on the mat after Demetrio Soto knocked him out at 58 seconds into the first round of their super lightweight boxing bout at Boardwalk Hall in Atlantic City, N.J., on Saturday, June 7, 2008. (AP Photo/David Gard)

This Monday, April 28, 2014 photo shows the Miss America statue that was dedicated on the Atlantic City N.J. Boardwalk The statue is part of an effort to provide year-round attractions for tourists that don't necessarily involve gambling. (AP Photo/Wayne Parry)

ATLANTIC CITY, NJ - AUGUST 09:Fans fill the Atlantic City Boardwalk to watch Nik Wallenda performs at the Tropicana Casino on August 9, 2012 in Atlantic City, New Jersey. (Photo by Donald Kravitz/Getty Images)

ATLANTIC CITY, NJ - AUGUST 13: A view of The 2014 Atlantic City Airshow, Thunder Over the Boardwalk, on August 13, 2014 in Atlantic City, New Jersey. (Photo by Tom Briglia/FilmMagic)

ATLANTIC CITY, NEW JERSEY, UNITED STATES - 2011/04/30: Atlantic City skyline at night. (Photo by John Greim/LightRocket via Getty Images)

Atlantic City NJ Boardwalk on a Sunny Day prior to the devastating Hurricane Sandy (Photo: Getty Images)

ATLANTIC CITY, NJ - APRIL 02: General view of the Revel Entertainment Casino on April 2, 2012 in Atlantic City, New Jersey. (Photo by Tom Briglia/FilmMagic)

This July 24, 2014 photo shows several lights burned out in the illuminated facade of the Trump Plaza Hotel Casino in Atlantic City, N.J. On Tuesday Aug. 5, 2014, Donald Trump sued Trump Entertainment Resorts, seeking to force the company to remove his name from its two Atlantic City casinos, Trump Plaza and the Trump Taj Mahal, alleging the company had allowed the casinos to fall into disrepair and tarnish the real estate mogul's personal brand. (AP Photo/Wayne Parry)

This July 24, 2014 photo shows the former Claridge Casino Hotel in Atlantic City that is currently operating as a non-casino hotel. Its new use could be a model for three current casinos due to shut down by mid-September. (AP Photo/Wayne Parry)

Workers put closed signs on the entrance of the Showboat Casino Hotel Sunday, Aug. 31, 2014, in Atlantic City, N.J. The show is ending for the Showboat Casino Hotel in Atlantic City. The Mardi Gras-themed casino is shutting down at 4 p.m. Sunday after 27 years on the Boardwalk. Owner Caesars Entertainment is closing the still-profitable Showboat to reduce the number of casinos in Atlantic City, which has been struggling with plunging revenue and increased competition. (AP Photo/Mel Evans)

ATLANTIC CITY, NJ - APRIL 29: The construction site for the Revel Entertainment's Atlantic City resort on April 29, 2009 in Atlantic City, New Jersey. Many Atlantic City residents are dependent on the struggling gaming industry for employment. Since the beginning of the year, the 11 casinos in Atlantic City reportedly have eliminated 1,270 jobs; totaling a loss of 3,092 casino workers since March 2008. (Photo by Spencer Platt/Getty Images)

ATLANTIC CITY, NJ - JULY 30: The recently closed Atlantic Club Hotel and Casino is viewed in Atlantic City on July 30, 2014 in Atlantic City, New Jersey. Since January of 2014, four of Atlantic City's 11 casinos have announced plans to close, gone bankrupt or closed leaving thousands of residents without jobs. As neighboring cities open gambling businesses, fewer people are traveling to Atlantic City for visits to casinoes. Since 2006 Casino revenue in Atlantic City has fallen from $5.6 billion to $2.86 billion. Experts believe this is the biggest crisis Atlantic City has faced in its 36 year relationship with gambling. (Photo by Spencer Platt/Getty Images)

The Borgata Hotel Casino and Spa is shown in Atlantic City, New Jersey, 24 May 2007. The hotel, which opened in 2003 and features 2000 rooms, touts itself as the first Las Vegas style resort in Atlantic City. Gambling has been legal in Atlantic City, one of the few such cities in the United States, since the first casino opened in 1978. (Photo credit should read SAUL LOEB/AFP/Getty Images)

A damaged letter "R" and a missing letter "E" are seen on The Boardwalk sign for the closing Revel Casino Hotel, Monday, Sept. 1, 2014, in Atlantic City, N.J. The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling began to play out Monday when the $2.4 billion Revel Casino Hotel emptied its hotel. Its casino will close early Tuesday morning. Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. (AP Photo/Mel Evans)

A sign is seen Monday, Sept. 1, 2014, next to lobby escalators saying Revel Casino Hotel in Atlantic City, N.J., will cease operations Sept. 6, 2014 at 6 a.m. The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling began to play out Monday when the $2.4 billion Revel Casino Hotel emptied its hotel. Its casino will close early Tuesday morning. Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. (AP Photo/Mel Evans)

People walk on The Boardwalk past the closing Revel Casino Hotel, Monday, Sept. 1, 2014, in Atlantic City, N.J. The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling began to play out Monday when the $2.4 billion Revel Casino Hotel emptied its hotel. Its casino will close early Tuesday morning. Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. (AP Photo/Mel Evans)

A lone man is playing slots at Revel Casino Hotel Monday, Sept. 1, 2014, in Atlantic City, N.J. The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling began to play out Monday when the $2.4 billion Revel Casino Hotel emptied its hotel. Its casino will close early Tuesday morning. Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. (AP Photo/Mel Evans)

The boardwalk in Atlantic City, New Jersey, USA (Photo: Alamy)

ATLANTIC CITY, NEW JERSEY - MARCH 30: A police cruiser patrols the beach as seen from the Trump Taj Mahal casino hotel on March 30, 2016 in Atlantic City, New Jersey. The Atlantic City municipality is due to run out of funds on April 8 and is facing insolvency and the possibility of bankruptcy. Many city workers, including members of the fire and police departments, have vowed to continue working without pay until funds are restored. The Jersey Shore gambling resort town has seen four casinos close in recent years, cutting its casino tax revenue in half. The financial crisis has pitted Atlantic City Mayor Don Guardian against New Jersery Governor Chris Christie, who has refused to bail out Atlantic City with state funds. (Photo by John Moore/Getty Images)

ATLANTIC CITY, NJ - MARCH 27: Atmosphere of Atlantic City before the 33rd Annual Restaurant Gala; 'Mission Possible' benefitting The Atlantic Cape Community College in Atlantic City, New Jersey. (Photo by Steve Sands/Getty Images)

"First rule of politics, kiddo: Never let the truth get in the way of a good story." - ​Nucky Thompson, 'Boardwalk Empire'

Betrayal. That's what some are calling it. Over this past weekend, more than 5,000 people lost their jobs in Atlantic City as Showboat closed on Sunday, followed by Revel on Monday and Trump Plaza coming on September 16, according to the Associated Press.

Unprecedented. That's what others are calling it. Since the city was incorporated in 1854, it has year after year been considered a hub of opportunity, jobs, excitement, entertainment and most of all, revenue. And yet, as this year is witness, the gross gaming revenue has hit a downward slope it is unable to rise out of.

Atlantic City's gaming industry is experiencing a severe contraction -- though that is "exactly what the city needs to survive," say some experts. With too many competitors rising up and not growing the overall pie, profits were continually sliced smaller and smaller each of the past few years.

With the three most recent closures, Atlantic City's list of casinos shrinks to just a fraction of what it started with at the beginning of 2014 -- and with that maybe hope for a future according to some.

As the fate of the once-mighty city hangs in the balance, scroll through the pictures above to watch Atlantic City transform from its rise all the way through until today.

Do you think Atlantic City has a chance of revival? Comment below to share your thoughts.